Nickel prices fell by 1.34 per cent to Rs 997.70 per kg in futures trade today in line with weak global trends.
Besides, subdued demand from alloy-makers in the spot market weighed on metal prices.
At the Multi Commodity Exchange, nickel for delivery in November month fell by Rs 13.60, or 1.34 per cent to Rs 997.70 per kg in business turnover of 5,840 lots.
Similarly, the metal for delivery in December contract declined by Rs 12.90, or 1.27 per cent to Rs 1004.20 per kg in 3,751 lots.
Analysts said the fall in nickel prices in futures trade was largely in tandem with a weakening trend in base metals at the London Metal Exchange amid speculation a slump in the oil market will help reduce industrial-metals production costs.
